Divorce can be financially difficult for both parties, particularly in today’s economy. If you are the breadwinning spouse, you may face special difficulties—which include but are not limited to the following:
Your spouse doesn’t (or refuses to) work, so you may be looking at higher amounts of spousal support and child support.
Your name is tied to all of the marital debts because your spouse doesn’t have good credit.
You’re stuck paying everything: a mortgage, two car payments, and massive credit card debt that is more than you can afford.
Your spouse recklessly increases your debt, and only you are held responsible.
Your spouse has requested pendente lite support and attorney’s fees to help him or her carry on the divorce lawsuit.
Unfortunately, these are examples of some of the pitfalls that come with being the breadwinning spouse. Here are four tips to help protect yourself before, during … Read More »
If you are engaged to be married, you may be considering entering into a prenuptial agreement or “prenup” with your spouse-to-be. Although popular recognition of prenuptial agreements has grown thanks to celebrity divorces, prenups are still relatively uncommon in everyday marriages. If you or your soon-to-be spouse are pursuing a prenuptial agreement for your upcoming marriage, here are six things to keep in mind as you move forward:
Remember the purpose. Perhaps this is opinion, but the purpose of a prenuptial agreement is more about simplifying and reducing the costs of a potential divorce, and less about defining the marriage relationship or dictating the behavior of either spouse. Keeping this in mind should help you determine which terms are necessary to include and which terms are not.
Protect what you have now. People often enter into prenuptial agreements to protect the separate assets … Read More »
If you are going through a divorce or other family law case, it is advisable to hire an experienced family law attorney as early in the process as possible. Not only will your attorney help guide you through the process, he or she will also serve as your advocate and voice so that you can get the best possible result without having to stand alone. It is no secret, however, that legal fees in a family law case can be expensive—and you want to receive value for your money. Here are five tips for getting the most from the relationship with your family law attorney:
Pick wisely. Not all attorneys are created equal. Make sure you feel comfortable with your attorney’s personality, level of professionalism, and views about your case. Feel free to seek a second opinion with another attorney so that you … Read More »
A 529 plan is an education savings account that parents may set up to pay their children’s future college education costs. Otherwise known as a “Qualified Tuition Program” in the Internal Revenue Code, 529 plans are typically established through individual states or educational institutions and provide a variety of benefits. The primary benefit is that earnings derived from the investment of a 529 plan are not subject to federal taxation when used to pay college education costs. Unlike 401k accounts, however, the contributions to a 529 plan are not excluded from taxation, and there is no third party “matching” of funds.
To set up a 529 plan, you need one custodian (also known as the account holder), one beneficiary, and a plan administrator to invest the contributions. Parents who set up a 529 plan for their child can do so in … Read More »
If you are involved in a contested divorce in the Commonwealth of Virginia, the court will eventually set a date for an equitable distribution trial. At that trial, you and your spouse will have the opportunity to present proposals to the court for distribution of the marital property and debts. Occasionally, one party in an equitable distribution hearing will allege that the other has misused or deliberately disposed of marital property to purposefully deprive the other party of his or her share. This behavior is commonly known as “marital waste” or “dissipation of assets,” and the court has authority to consider such behavior in making an equitable distribution award.
But how does the court know when marital waste was purposeful? The general rule in Virginia, stated in Booth v. Booth, 7 Va. App. 22, 371 S.E.2d 569 (1988), is that “waste may be … Read More »
Signed into law by President Bush in 2003, the Servicemembers Civil Relief Act (SCRA) both replaced and expanded the similarly-focused Soldiers and Sailors Civil Relief Act (SSCRA), which was originally passed in 1918. The purpose of the SCRA is to allow servicemembers to “devote their entire energy to the defense needs of the Nation.” As such, the SCRA provides legal protections to active duty members of the United States military when they are involved in lawsuits that affect their rights. This applies to all types of litigation, including divorce and child custody lawsuits. If you are a member of the military on active duty, the SCRA can assist you greatly. However, if you are involved in litigation against an active duty member of the military, the SCRA can place many additional hurdles in your path. Here’s how:
How the SCRA Can … Read More »
Let’s suppose the marriage between you and your spouse has broken down, and you are ready to dissolve it. You and your spouse have already begun moving in separate directions. Tensions are mounting, and you’ve stopped communicating to avoid further escalation. Despite this, you’d like to resolve things through the cheapest and most efficient means, i.e. a property settlement agreement, rather than spending the time and money to litigate the issues of marital property, custody and support in court.
The catch is that your spouse won’t answer your attempts to communicate, won’t hire an attorney or regularly communicate with the attorney he or she has hired, and won’t extend the courtesy of resolving matters efficiently. What can you do?
You have options, although you’ll need to balance what you know about your spouse with your desire for resolution. You can try to … Read More »
Let’s say a Virginia court order specifies that you owe child support in the amount of $500/month, but you recently lost your job and haven’t been able to afford to continue paying. Or you moved yourself and your children to Maryland to be near your parents even though your custody and visitation order states that you must provide the court and the other party with advance written notice thirty days before relocating outside the Commonwealth of Virginia. Regardless of your justifications, these are violations of court orders and they should not be taken lightly. If you expect to soon violate your court order, or if you have already violated your court order, you are probably wondering about the possible consequences.
When one party in a custody or divorce case violates a court order, the other party has the opportunity to petition … Read More »
If you are like most people, you want to minimize the costs of your divorce as much as possible. You’ve heard the stories about skyrocketing attorney fees and you intend to do everything in your power to avoid them. Plus, you and your spouse seem to be getting along and you think you’ll be able to come to an agreement on most or all of the marital issues. So you start browsing around online for a good template for a property settlement agreement or separation agreement. You can pick and choose the language you like and don’t like, and then you can add in provisions that seem like a good fit for you and your spouse. Sounds like a good plan, right? Think of all the legal fees you’ll save!
The problem with this approach, however, is that by cutting corners, … Read More »
Mediation is an increasingly popular form of alternative dispute resolution, used by more and more divorcing couples in Virginia. But, how do you know when mediation is in your best interests?
The goal of mediation is to effectuate a settlement between two opposing parties through the presence of a neutral third party. The strategies employed by mediators vary greatly and the length of the process can range from a couple hours to a number of days. For example, some mediators prefer to work collectively with the parties and attorneys to come up with an efficient solution. Others prefer to work with each party individually and determine his or her most important interests, and then relay those interests to the other party in a less contentious manner. “Offers” may be exchanged back and forth.
Ultimately, the result achieved from mediation is not binding … Read More »